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VDMA: Trump’s climate withdrawal will damage the economy


02 Jun 2017


Innovation & Enterprise
Climate & Environment

Frankfurt/Brussels, 2 June 2017 – US President Donald Trump has announced that the US will withdraw from the Paris Climate Accord. VDMA Chief Executive Thilo Brodtmann comments:

“Trump’s climate withdrawal will damage the economy. By withdrawing from the Paris Climate Accord, US President Donald Trump is putting his campaign promises ahead of the long-term interests of the world community. This is irresponsible, not only toward the environment, but also toward the global economy. The reduction of greenhouse gas emissions can take place in parallel with economic growth if companies can confidently plan investment in efficient technologies. President Trump calls this prospect into question, and is thus delaying the further development of a modern and environmentally friendly industry. Europe and its partners, including key states and companies in the US, now need to hold their ground. The EU must boldly adhere to the Climate Accord, without being diverted from its line by this retrograde step, which comes six months after the Accord was ratified. Europe will benefit from the Accord on a lasting basis if it can extend its position as a driver of innovation in climate-friendly technologies.”

VDMA (Verband Deutscher Maschinen- und Anlagenbau, Mechanical Engineering Industry Association) represents more than 3,200 mostly medium-sized companies in the capital goods industry, making it the largest industry association in Europe. With more than 1 million employees in Germany and a turnover of 219 bn. Euro (2016), the mechanical engineering industry is the largest industrial employer in Germany and one of the leading industries overall.